Firm profitability during the servitization process of the music industry

摘要

The music industry, as other creative industries, has suffered dramatic decrease in performance due to the digital disruption.\udWhile in the previous literature revenues are viewed as a proxy\udfor performance, this paper uses profits, confirming the link\udbetween the fall in industry revenues and firm profits.\udProfi ts have decreased more for local fi rms than multinationals,\udindicating that the large firms adapt better to technological and\udeconomic disruptions